Why Traders Are Watching Amazon, Alphabet, and Three Casino Stocks Today

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Wynn Resorts, Limited (NASDAQ:WYNN)MGM Resorts International (NYSE:MGM), and Las Vegas Sands Corp. (NYSE:LVS) are in the spotlight today due to the Golden Week national holiday in the territory. After two painful years, gross gambling revenue in Macau have inched up for two straight months in August and September, with sales for the latter rising 7.4% year-over-year to 18.396 patacas, or $2.28 billion U.S. dollars. If sales can continue to rise during the pivotal Golden Week, sentiment around the casino operators could remain bullish and more investors will think the bottom is in for Macau. In other news news, Bank of America Merrill Lynch analyst Shaun Kelley upgraded Las Vegas Sands to ‘Buy’ from ‘Neutral’ and hiked his price target to $63 from $52, saying that the Street consensus might move higher as more potential good news trickles in. Among the funds we track, 23 investors held shares of Las Vegas Sands Corp. (NYSE:LVS), 30 were bullish on Wynn Resorts, Limited (NASDAQ:WYNN) and 59 funds were long MGM Resorts International (NYSE:MGM) at the end of June.

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Disclosure: None

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